Money management guide


The end result of something a person intends to achieve.


- A fundamental belief or practice about what is desirable or worthwhile.

- Everyone values are different, you could value honesty but some will not value honesty.

- Things that influence your values are family, culture, friends, peers and media.


Goods or services that are required for survival.
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The desire for goods and services that can increase our quality of life but are not absolutely necessary for survival.
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Giving up one thing for another.

Short term goal

Something that you will accomplish within a year.

Long term goal

Something you will accomplish in the future.
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Commercial Bank

- Is for profit.

- They also offer financial services to consumers and other business.

- Offers numerous financial services.

- Open to anyone who wants to utilize a depository institution (bank).


The price paid for using someone else money.

Debit Card

Is a plastic card that is electronically connected to your banking account. Can use anywhere were they accept cards. Also very handy when not having to go withdraw money from a ATM.
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Statement of Financial Position

- It decides a individuals or family's financial condition on a certain date by showing assets, liabilities and net worth.

- Shows a person's new worth.

- It is similar to a net worth statement or balance sheet

Checking account

- An account that allows quick asses to your money.

- Allows your money to be safe in the bank.

- Allows you to have asses anytime with your bank.

- Some earn interest but most do not offer interest on checking accounts.

- Can deposit money anytime by writing checks, a debit card, withdrawing cash, and electronically.

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Savings account

- Designed to hold money not used on daily expenses.

- Money is safe in the bank and most banks are insured.

- Also can earn more money from interest, when you have your money in a savings account.

Credit Union

- Not for profit and are owned by members as like a family.

- Have membership qualifications, all members must share a common bond.

- Don't usually offer as many services as a bank.

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Unearned income

- Income received from sources older than employment

- You could receive unearned income from scholarships and grants from non-government sources.

- Money from others.

- Child support

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